CBN Archives - Voice of Liberty NG

‘FG earned ₦24tr from crude exports in 6 months’ – CBN

August 4, 2026August 4, 2026 Aminu Imam

…As refiners kept waiting Nigeria’s crude oil exports generated an estimated ₦24.02 trillion in the first six months of 2026, reinforcing the country’s dependence on crude sales for foreign exchange even as domestic refiners continued to complain about inadequate feedstock. An analysis of production and export data compiled from the Central Bank of Nigeria (CBN) shows that the country exported about 182.2 million barrels of crude between January and June. Using the average monthly price of Bonny Light crude and an exchange rate of ₦1,365 to the dollar, those exports…

‘Nigeria’s debt securities rise to ₦175.46tr in 12 months’ – CBN

July 31, 2026July 31, 2026 Aminu Imam

Nigeria’s debt securities grew by 14.47% to ₦175.46 trillion in 2025, driven largely by increased Federal Government borrowing to finance budget deficits, according to the Central Bank of Nigeria (CBN). The apex bank, in its 2025 Annual Report, said the country’s debt securities expanded by ₦22.13 trillion, rising from ₦153.28 trillion in 2024 to N175.46 trillion at the end of 2025. It attributed the increase to higher government borrowing needs and investors’ growing preference for debt securities over conventional loans because of attractive yields. According to the report, while the…

CBN counters Acct-General, says it opened PFIPC a/c’s on OAGF’s directive

July 22, 2026July 22, 2026 Aminu Imam

The Central Bank of Nigeria (CBN) has confirmed opening two domiciliary accounts linked to the controversial presidential foreign investment promotion council (PFIPC) on the directive of the Office of the Accountant-General of the Federation (OAGF). The apex bank, however, said the accounts, one denominated in United States dollars and the other in British pounds sterling, were never funded or operated. The Director of banking services, Abdullahi Hamisu, spoke on Monday while appearing before the House of Representatives ad hoc committee investigating the legal basis, operations, and budgetary inclusion of the…

“PFIPC has no operational CBN account” – Acct.-General’s office

July 7, 2026July 7, 2026 Aminu Imam

The Office of the Accountant-General of the Federation (OAGF) has denied claims that the disputed Presidential Foreign Intervention Promotion Council (PFIPC) opened an operational account with the Central Bank of Nigeria (CBN), contradicting an earlier Presidency statement. Recall that Presidential spokesman Bayo Onanuga had said Prince Adeniyi Adeyemi, who allegedly posed as PFIPC Director-General, used forged documents to mislead the OAGF into opening a CBN account, though no public funds were paid into it. “The Police found that Adeyemi, using the fake documents he created, fraudulently opened a CBN account…

CBN revokes licences of 46 microfinance banks

July 2, 2026July 2, 2026 Aminu Imam

The Central Bank of Nigeria (CBN) has revoked the operating licences of 46 microfinance banks (MFBs) across the country over their failure to comply with regulatory requirements necessary for continued operations. The apex bank announced the decision in a statement issued yesterday by its Acting Director of Corporate Communications, Hakama Sidi-Ali, stating that the revocation took effect from July 1, 2026. According to the CBN, the action was taken pursuant to Sections 12 and 13 of the Banks and Other Financial Institutions Act (BOFIA), 2020, which empower the regulator to…

‘Nigeria’s external reserves rise to $49.34bn’ – CBN

June 1, 2026June 1, 2026 Aminu Imam

…Says $2.34bn spent on food imports in 2025 Nigeria’s external reserves have continued their upward trajectory, rising to $49.34 billion as the naira remained largely stable against the United States dollar, reinforcing investor confidence in the country’s foreign exchange (forex) market reforms and external sector outlook, according to the latest data released by the Central Bank of Nigeria (CBN). This is just as the apex bank revealed that Nigeria spent approximately $2.34 billion on food imports in 2025, underscoring the country’s continued dependence on foreign food supplies despite a modest…

CBN restricts banking services for chronic loan defaulters

March 28, 2026March 28, 2026 Aminu Imam

The Central Bank of Nigeria (CBN) has restricted banking services for large-scale loan defaulters, cutting-off their access to fresh credit, letters of credit, performance bonds, and other trade instruments. The move marks a decisive end to years of regulatory forbearance that allowed well-connected borrowers to accumulate debt with little consequence. The CBN issued the directive on Wednesday, following remarks by Governor Olayemi Cardoso at the 4th Annual IMF/AFRITAC West 2 High-Level Executive Forum in Abuja. It targets “large-ticket obligors” – individuals and corporations carrying significant debts classified as non-performing in…

‘Nigeria’s medical tourism spending falls 96%’ – CBN

January 4, 2026January 4, 2026 Aminu Imam

…As local healthcare capacity deepens Nigeria’s long-standing reliance on overseas medical treatment appears to be rapidly reversing, as new data from the Central Bank of Nigeria (CBN) shows a dramatic collapse in spending on medical tourism, signalling a major shift in healthcare utilisation toward domestic facilities. According to CBN figures covering January to June 2025, Nigeria’s medical tourism spending plunged by 96.2% year-on-year, falling from $2.38 million in the first half of 2024 to just $0.09 million in the corresponding period of 2025. The sharp contraction, amounting to a $2.29…

CBN directs PoS providers to link NIBSS, UPSL in 30 days

December 14, 2025December 14, 2025 Aminu Imam

The Central Bank of Nigeria, (CBN) has mandated all acquirers, processors, payment terminal service aggregators and providers to establish dual connectivity with the Nigeria Inter-Bank Settlement System (NIBSS) and Unified Payment Services Limited (UPSL) within one month. The new directive aims to eliminate persistent Point of Sale (PoS) transaction failures. The directive, contained in circular signed by the CBN’s Director of Payments system Supervision department, Rakiya Yusuf, builds on a September 2024 policy to end reliance on single routing channels that have plagued the nation’s cashless payments ecosystem. Under the…

Nigeria’s External Reserves hit historic peak above $45bn in 6yrs

December 9, 2025December 9, 2025 Aminu Imam

Nigeria’s external reserves hit a six-year high, rising above $45 billion mark, in a historical move. Latest data released by the Central Bank of Nigeria, (CBN), showed that such a peak was last recorded on July 23, 2019, when they stood at $45.04 billion. The external buffers now stand at $45.04 billion, after climbing to $42.03 billion on September 19, 2025. This means the nation has added nearly $5 billion to its reserves within a short period. The rise in the country’s external reserves is not a one-off spike but…